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Milk futures, cash cheese lower

Thursday, January 19th, 2017

In Class III trade at the Chicago Mercantile Exchange, milk futures were lower, pressured by demand uncertainties and technical selling. January was down $.01 at $16.78, February was $.12 lower at $16.91, March was down $.18 at $17.28, and April was $.15 lower at $17.46.

Cash cheese was lower. Blocks were down $.0125 at $1.6925. There were three trades reported, including one at $1.6925. Barrels were $.0275 lower at $1.61. There were five loads sold, ranging from $1.57 to $1.61.

Butter was unchanged at $2.24.

Nonfat dry milk was up $.005 at $1.0375. There were six loads sold, including two at $1.02 and one at $1.0375. The last unfilled bid was on one load at $1.03. The last uncovered offer was for one load at $1.04.

Cooperatives Working Together announced the acceptance of two requests from member coops for export assistance on 51,809 pounds of Cheddar cheese and 220,462 pounds of butter. The products are headed to Asia and the Middle East with delivery scheduled for January through April.

Source: Brownfield Ag News

(T1, D1)

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